APPSC Group-1 2012 Economy Previous Year Questions Leave a Comment / APPSC Group-1 Questions / By vanikrishna1796@gmail.com The number of commercial banks that were nationalized in 1969 were Fourteen Twelve Twenty-four Sixteen14 major commercial banks were nationalized on July 19, 1969 by the Government of India under Prime Minister Indira Gandhi. A second round of nationalization of 6 banks occurred in 1980. Answer: (1) Fourteen.In the 1991 New Industrial Policy of India, one of the major proposals was the allowing of foreign direct investment upto 51.0 percent in All industries Agro processing industries Export industries High priority industriesThe 1991 New Industrial Policy allowed automatic approval for FDI up to 51% equity in high priority industries. This was a landmark economic reform. Answer: (4) High priority industries.The Industrial Policy Resolution that was described as the Economic Constitution of India is 1948 Resolution 1956 Resolution 1977 Resolution 1991 ResolutionThe Industrial Policy Resolution of 1956 is often described as the ‘Economic Constitution of India’. It laid the foundation for India’s industrial development with a socialist pattern of society. Answer: (2) 1956 Resolution.The novel idea included by the Government of India in the draft Sixth Five Year Plan was Long term plan Minimum Needs Programme Rolling plan Rural development programmeThe draft Sixth Five Year Plan (1978-83) introduced the concept of Rolling Plan, which was a novel idea at that time. Answer: (3) Rolling plan. Loading …
